Inventory Management for Supply Chain

Description

Inventory is a large and costly investment. Better management of corporate inventories can improve cash flow and return on investment. Inventory play significant role in many organizations, particularly in setting and achieving an effective level of customer service. Organizations make large investments in their inventories and in the modern approach to supply chain management, the focus has been on keeping inventory levels at an optimum level without jeopardizing the operations of the organization. Inventory control is something that should be front-of-mind for anyone in the wholesale distribution business. In the simplest of terms, inventory control involves having greater oversight over one’s stock. Some refer to it as “internal control” or even as an accounting system set up to safeguard assets.
This training is designed to up skill the participants on how to better manage inventory from the supply chain perspective. This workshop is also aimed to expose the participants in critical areas of managing inventory and reflect the contribution on overall supply chain management. Participants will also be able to explain the various stages of supply chain where inventory plays as an important role.

 

Target Group

The training workshop can be attended by any one currently in procurement and supply role or who is part of the supply chain management team handling some form of procurement and supply activities. Ideal for those already in workforce or planning to pursue their career in supply chain skill.

 

Learning Outcome

• Agree on the importance of ethics, trust and accountability in managing inventory
• Explain the importance of inventory management in entire supply chain
• Demonstrate the relationship between the purchasing function and inventory control
• Explain the primary reasons for holding inventory
• Explain the differences between the dependent and independent inventory
• Illustrate and explain the requirements necessary for effective inventory management
• Apply the ABC Classification and analysis of inventory items
• Apply the basic assumptions of the EOQ Model
• Explain the differences between fixed order quantity and variable order inventory systems
• Organize how to apply effective stock taking strategies

Course ID
WPS03
Duration
1 Day
CPD Hours
6
Fee
F$495.00

2020 Training Schedule

Suva
Aug 15, Mar 21
Nadi
Not Offered
Lautoka
Not Offered
Labasa
Not offered

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GENERAL ENQUIRIES

+679  331 2297
[email protected] 

TRAINING ADVISE:

Naomi Coalala
Manager – Business Development
+679  331 2193
[email protected] 

IN-HOUSE REQUESTS:

Vishal Parkas
Marketing & Admin Officer
+679  331 2193
[email protected] 

CORPORATE LEARNING SOLUTIONS 

Verleshwar Singh
Head – Workforce Development Training Unit
+679  331 2195 / +679  999 3659
[email protected] 

 

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